We have a Disaster Tax Bill
We have finally have a slimmed down disaster tax bill assuming President Biden signs it.
The Federal Disaster Relief Act was finally passed by the Senate with unanimous consent on December 4. This had previously passed the House in May by a 382-7 vote. It was originally part of the Tax Relief for American Families and Workers Act, but the Senate Republicans prevented that bill from passing.
The Federal Disaster Relief Act was then carved out of that bill and passed this week, and it is very likely that President Biden will sign it.
The Act provides the following provisions:
